For the first time in a while, someone is stepping up with efforts to get a stadium built in Oakland. Among the group's investors are former Raiders Ronnie Lott and Rodney Peete, who recently met with Raiders brass as well as Oakland officials with a proposal to be the developer on a new stadium according to the San Francisco Chronicle.
This development group, which would like to take over the plans on the current 120-acre coliseum site, has some heavy hitters in its ranks. Among them are Atlanta developer Egbert Perry who is chairman of the board of Fannie Mae as well as CEO of the real estate and investment firm Integral, and Seth Hamalian, founder of the Mission Bay Development Group.
In return for developing the stadium site, the group would be looking for a minority share in the team.
There is a sense of urgency that something get rolling on this. Mark Davis has been pushing hard of late to secure financing on a $1.4 billion stadium in Las Vegas due to a lack of action from Oakland on ensuring they can get a stadium built.
This is just the beginning of the process for this latest development. The group has already met with Oakland Mayor Libby Schaaf and now are expected to meet with members of the Alameda County Board of Supervisors this week. Should they be onboard, they can move forward to see if the group can have success where several previous plans had failed.